Rising NPA- a blot on co-op banks: Udit Raj, MP

We should have a wide network of cooperative banks through the country so that we can use this institutional infrastructure in curbing black money, and corruption”, said Udit Raj, Member of Parliament, Lok Sabha, North West Delhi Constituency to Indian Cooperative.

Udit Raj said “There are several cooperative banks which indulge in money laundering but we have to force them to clean up their act as crores of people are connected to them as members” , he said.

Raj said the NPA has become a blot on the country reputation in recent days. The NPA is a whopping Rs 10 lakh crore.

The RBI should guide these cooperative banks and utilize their services in changing the country’s economy, Udit Raj added.